Icelanders, local partners tussle over N$406 million fishing vessel

THE Icelandic partners of 15 Namibian fishing companies that entered into a joint ven­ture to form ArcticNam Fishing(P­ty)Ltd about five years ago want the company liquidated. The move will likely result in local shareholders los­ing US$28 million or N$406 million at the current rate in payments they have made towards the purchase of a fishing vessel the parties co-own.